BYD, the Chinese EV giant, passed a significant milestone on Monday: it overtook Elon Musk’s Tesla in annual revenue. BYD generated 777.1 billion yuan ($107.1 billion) in annual revenue, up 29%. Not only is that past the $100 billion threshold, it’s greater than Tesla’s 2024 revenue of $97.7 billion.
It’s been a good few months for BYD. Shares in the company are up by around 50% so far this year, part of a broader rally in the Chinese tech sector....
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